NHPC

In 1975, the Government of India established the National Hydroelectric Power Corporation, or NHPC, to systematically develop the country's hydroelectric power. The company was founded not by a typical startup team, but as a government initiative to plan, promote, and organize the growth of hydropower. Initially, it took over existing projects, with its first major commissioned project being the Baira Siul Power station. NHPC's business model is centered on the generation and sale of bulk power to various state power utilities. For decades, its playbook was straightforward: build and operate hydroelectric projects across India. This strategy established it as one of the largest hydropower organizations in the country. The company also expanded its expertise internationally, taking on consultancy and project execution in neighboring countries like Nepal and Bhutan. The company's capital journey took a significant turn in August 2009 when it launched its Initial Public Offering (IPO). Listing on the Bombay Stock Exchange and the National Stock Exchange on September 1, 2009, marked a major milestone, opening the company to public investment. This event provided substantial capital and transitioned NHPC into a new phase of growth. More recently, the company has diversified its energy portfolio beyond hydro to include solar and wind power, adapting to the global shift towards a wider range of renewable energy sources.